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Soochow: Maintains KUAISHOU-W "Buy" rating; the capabilities of the Ling 2.0 model exceed expectations.
Soochow Securities released a Research Report stating that on April 15, KUAISHOU-W (01024) held the "Inspiration Comes True" 2.0 model launch conference, announcing another upgrade of the base model, officially releasing the Keli 2.0 video generation model and the Ketu 2.0 image generation model globally. The capabilities of the Keli 2.0 model exceeded the firm's expectations. The firm is bullish on the company's AI Business development and maintains the adjusted Net income forecasts for 2025-2027 at 20/24.5/29.6 billion yuan, corresponding to PE ratios of 10/8/7x, and maintains a "Buy" rating. Soochow Securities' main points are as follows: KUAISHOU officially released the full series of Keli AI 2.0.